Thursday’s June Milk Production Report showed milk production up by 0.2%. This was the first year-on-year increase in supply by eight months.
In the spot dairy product trade, block cheese dropped 6.50 cents to $1.91/lb. Barrels shed nine cents to $1.96/lb. Whey moved 2.25 cents to $0.4550/lb. Butter added a penny to $2.9250/lb. NFDM gained 2.75 cents to $1.6875/lb.
Class III milk futures were lower on the day. August milk slipped 50 cents to $20.19/cwt. September also fell 50 cents to $20.01/cwt. Class IV futures were mixed. August tumble 22 cents to $24.34/cwt. September increased 14 cents to $23.40/cwt.
The grain sector sold off. December corn decreased 16.50 cents to $5.7350/bu. November soybeans finished 30.50 cents lower to $13.0150/bu. December soybean lost $5.70 to $385.20/ton.
The livestock market was mixed. August live cattle gave up 2 cents to $135.72/cwt. August feeder cattle added 45 cents to $178.27/cwt. August lean hogs rallied $1.42 to $116.30/cwt. September crude oil slipped $3.46 to $96.42/barrel.
